Hidden Hands EP 9 (Ben Thomas) | Producing For Uzi & Handling Your Money
Sep 19, 2023
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Ben Thomas, a prolific music producer known for collaborating with Lil Uzi Vert, shares insights on music production, the evolving music landscape, and the process of working on albums. He also discusses the importance of managing money as a freelancer, reflecting on past mistakes, and finding redemption. The speakers emphasize the value of hands-on learning and the challenges of dealing with mix engineers in the music industry.
The importance of managing finances and building leverage to secure a financial future.
Prioritizing spending based on personal preferences and investing in personal growth.
Determining spending priorities and implementing a steady savings strategy.
The dangers of debt and the need for financial planning and education.
Deep dives
Maintaining Financial Stability and Leverage
The podcast episode discusses the importance of managing finances and building leverage for freelancers, such as engineers and producers. It emphasizes the significance of paying oneself first, saving money, and investing in retirement accounts. The importance of staying out of debt and knowing what is enough for an individual's wants and needs is highlighted. The episode stresses the need for financial education, understanding one's relationship with money, and overcoming financial trauma.
Balancing Spending and Prioritizing Investments
The podcast discusses the concept of prioritizing spending and investments based on personal preferences. It encourages individuals to figure out what they are willing to spend on and what they can cut back on. The importance of distancing oneself from impulsive purchases and saving money is emphasized. The episode also suggests investing in personal growth and knowledge, such as books and education, while recommending financial books for further learning.
Understanding money dials and savings strategies
The podcast explores the concept of money dials, where individuals determine their spending priorities and allocate their resources accordingly. It provides insights into how personal preferences and financial trauma can impact spending habits. The episode highlights the importance of a steady savings strategy, including emergency funds and retirement accounts. It encourages individuals to budget their money, pay attention to taxes, and seek professional advice in managing their finances.
The Perils of Debt and the importance of financial planning
The podcast episode underlines the dangers of debt and how it can hinder financial stability. It stresses the need to manage debt responsibly and avoid overspending. The episode emphasizes the need for financial planning, including retirement planning, and investing in assets that appreciate over time. It also encourages individuals to educate themselves about personal finance, minimize lifestyle creep, and make informed financial decisions.
The Challenges and Rewards of Being an Engineer
Being an engineer in the music industry comes with its fair share of challenges and rewards. One challenge is the unpredictable and demanding nature of the job, often requiring long hours and last-minute changes. Despite the challenges, the work ethic and dedication required in this role can be rewarding, especially when seeing the final product come together. Building strong relationships and trust with artists and their teams is crucial for success, as it opens opportunities to work on bigger projects. The ability to adapt and be versatile is important, as engineers may need to step into different roles and handle various tasks, from tracking and mixing to producing and even assisting with legal and business aspects. However, it is necessary to set boundaries and find balance in order to avoid burnout and maintain a healthy personal life. Overall, the journey of an engineer is filled with ups and downs, but the passion for music and the opportunity to contribute to the creative process make it all worthwhile.
The Importance of Financial Literacy for Engineers
One often overlooked aspect of being an engineer in the music industry is financial literacy. It is crucial for engineers to understand the business side of their work and the value they bring to projects. Negotiating fair compensation and understanding contracts and royalty agreements are essential skills. Building leverage and establishing yourself as indispensable in your field is key to commanding a higher income. Saving and investing wisely is also important, as the income of an engineer can vary and may not always be steady. Building a financial safety net and planning for the future is crucial for long-term success. Additionally, being knowledgeable about taxes, deductions, and expense tracking can help maximize earnings and minimize financial stress. By focusing on both the creative and financial aspects of their work, engineers can create a solid foundation for a successful career.
Balancing Personal Life and Career Demands
Being an engineer in the music industry often requires juggling personal life and career demands. The nature of the job, with long hours, last-minute calls, and unpredictable schedules, can easily take a toll on personal relationships and well-being. Setting boundaries and finding balance is crucial to maintain a healthy work-life integration. Communicating with loved ones about the demands of the job and managing expectations can help alleviate strain in personal relationships. Taking time for self-care, whether it's setting aside time for hobbies, exercise, or relaxation, is essential to avoid burnout and maintain mental and emotional well-being. While it can be challenging to find that balance, it is necessary for long-term career sustainability and overall happiness.
The Advice I Wish I Had Received
Reflecting on the journey as an engineer, there are some words of advice I wish I had received earlier. First and foremost, embrace the challenges and unpredictability that come with the job. It is through these experiences that you grow and gain valuable skills. Surround yourself with a supportive network of mentors, colleagues, and friends who can provide guidance and insight. Be open to learning and constantly improving your craft. Build strong relationships with clients, artists, and their teams, as these connections can lead to new opportunities and collaborations. Don't be afraid to set boundaries and prioritize your well-being. Remember that financial literacy and planning are just as important as mastering your technical skills. Lastly, enjoy the journey and remember that every step, even the toughest ones, are part of the process that shapes you into a skilled and experienced engineer.
"Ben Thomas is a prolific music producer renowned for his collaborations with hip-hop sensation Lil Uzi Vert. With an innate talent for crafting chart-topping beats, he's the creative genius behind some of Uzi's biggest hits. Beyond his musical prowess, Ben is also a savvy financial manager, leveraging his success in the music industry to build a secure financial future. Join us as he shares his journey, production insights, and money management wisdom on Hidden Hands EP 8."
🎵 Key Takeaways:
Ben Thomas' perspective on the evolving music landscape.
Behind-the-scenes look at music production and Uzi's process.
Tips and tricks for aspiring artists and producers who want to manage their money well.
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